Exclusive to both the digital and physical world, Hong Kong-based jeweller Payal Shah, who has styled Lady Gaga, Nicki Minaj and Michelle Obama speaks about her NFT diamond earrings and the new outlook it sets for creativity.

Interviewer: Shanti Parmanand

NFTs, Non-fungible tokens, collectables – however you may know them, we’re all thinking: what is so special about them? Unlike cryptocurrencies such as Bitcoin or other decentralised digital currencies, NFTs are traded via the blockchain, meaning they are limited-edition artefacts that are often art images or objects.

A market estimated to grow to USD$80 billion by 2025, the rapid surge in 2021 proves that it will become the newest financial market intersecting both the physical and digital world. Though a field predominantly male, with World of Women (WoW), WomenRise, and Sad Girls Bar, female-owned NFTs are soaring, ultimately pushing more women like Hong Kong-based entrepreneur and jeweller Payal Shah to join this online space.

Sparked by her upbringing, Shah’s diamond earrings is the first to exist in the digital and physical world. Growing up watching her parents in the diamond industry, she taught herself about precious gems and stones. “I used to always create custom pieces for myself,” she recalls, where her dedication only grew even after graduating from The University of Westminster (BA Architecture) in 2010.

Starting out with a hospitality design firm after obtaining her degree, she would spend her spare time sorting out stones for her parents, then sketching design ideas with the imagination of how she would like them made for her own use. It was her first step to turning a passion into a career. Carrying her own ever-growing business today, the young jeweller has two labels: Psylish Jewellery and L’Dezen, which began with an opportunity in 2011 to design a capsule collection for a jewellery convention. Her first collection, which includes 40 to 45 styles, was welcomed with success. “I realised not only did I enjoy designing but the business side of the industry too – and later, L’Dezen was first born.”

*Bored Ape NFT in L’Dezen’s Limitless Earrings.*
Photo courtesy of Payal Shah

After having bought her own World of Women NFT – Digital Twin, the fine jewellery marketplace on the Ethereum network invited her to be their first jewellery NFT designer. Launched early this year, the dazzling pair was made with a touch of Very Peri purple (which happens to be the colour of the year) with each earring including four emerald-cut white diamonds, encased by oval hoops. Looking into artists such as CryptoChicks and 8Sian who continuously inspired her – L’Dezen’s ‘Limitless Earrings’ were designed to be a visual love letter to Shah’s interest in the thriving NFT space.

Sold at an auction this year in March, the earrings went for USD$8,205 in honour of International Women’s Day where 10% of the proceedings were donated to the Global Fund for Widows. “The winner got immediate access to the NFT via their wallet and was exclusively designed for our genesis drop,” and since it is asset-backed, the buyer redeemed the NFT online and a physical pair of the earrings was shipped to them. “The earrings will never be created again, which adds to the speciality of owning a rare collectable,” she adds.

*A PFP of Paris Hilton in L’Dezen’s Limitless Earrings.*
Photo courtesy of Payal Shah

“In this digital age, the ability to verify actions, authenticity, and origin is priceless.” To Shah, NFT jewellery is more than a fashion-forward collectable, but rather an artefact that can last an eternity, all while looking to champion the efforts of women-creators just like her. They serve not only as “a digital certificate of redemption, meaning it can continue to highlight the provenance of the product as the piece is passed down to family, friends, or resold,” but empowers creators like herself “to capture and share their digital expressions on their own terms.”

The NFT space is expanding, which has driven Shah to think about “involving more females in the NFT space” and “enabling young entrepreneurs to gather their creations and bring them to the forefront of the blockchain.” Ready to ignite change in the future of fashion and technology, the NFT-driven entrepreneur has always viewed jewellery pieces as sentimental mementoes, which is at the core of L’Dezen exploring the metaverse. “Jewellery is one of the most collectable forms of art, it’s the new standard in fashion and is inspiring how we create and consume.”

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